Standard & Poor's Rating Services affirmed its 'A+' long-term rating on the city of Jackson, Tenn.'s $299.8 million series 2008 health care revenue bonds issued on behalf of West Tennessee Healthcare (WTH), doing business as Jackson-Madison County General Hospital. The outlook is stable. The rating reflects our assessment of WTH's: Very strong market position, with minimal competition in a seven-county primary service area; Positive operating results over the past two fiscal years, including the unaudited June 30, 2011, fiscal year with a $12.2 million operating surplus or 2% operating margin; and Continued growth in unrestricted liquidity levels, with days' cash on hand improving to 207, while cash to total debt equals just over 1x. In our opinion, partially offsetting credit...
Companies mentioned in this report are:
- West Tennessee Healthcare
Action: Outlook: Stable
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